Gujarat: India’s chemical industry to attract Rs 8 lakh crore by 2025

India’s chemical industry, which is growing at a rate of 9.3 per cent per annum, will attract investments worth Rs 8 lakh crore by 2025, said Susanta Kumar Purohit, joint secretary, department of chemicals and petrochemicals, Government of India, while addressing a national conference on chemicals in Ahmedabad, Gujarat, Saturday.

“The chemical industry is growing at rate or 9.3 per cent and with the kind of demand forecasted, our growth rate will be more in times to come,” Purohit said, while speaking at the meet organised by the Gujarat Chemical Association (GCA).

“The industry was worth USD 178 billion in 2019. It is expected to grow to USD 304 billion by 2025 at rate to 9.3 per cent. It is expected to attract investments of Rs 8 lakh crore by 2025,” he added.

Gujarat, which has over 11,000 chemical units, accounts for more than 50 per cent of the major chemicals produced in India. According to Purohit, the specialty chemicals sector in India is poised to grow faster. “Specialty chemicals industry is expecting a growth target of 12.5 per cent, which is higher than that of chemical industry growth,” he said.

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